Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) PT at $70.67

GeneDx Holdings Corp. (NASDAQ:WGS) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $72.33.

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen raised their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Craig Hallum raised their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th.

GeneDx Price Performance

GeneDx stock opened at $95.00 on Tuesday. The company’s fifty day moving average price is $79.34 and its 200 day moving average price is $63.80. GeneDx has a 1 year low of $7.56 and a 1 year high of $115.60. The stock has a market capitalization of $2.61 billion, a P/E ratio of -48.47 and a beta of 2.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, equities research analysts anticipate that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the sale, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 1,657 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $308,975.76. This trade represents a 29.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,584 shares of company stock worth $11,336,520 in the last quarter. Company insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of WGS. MCF Advisors LLC increased its stake in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the period. Sterling Capital Management LLC increased its stake in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the period. Global Retirement Partners LLC purchased a new stake in GeneDx during the fourth quarter worth about $28,000. Lazard Asset Management LLC purchased a new stake in GeneDx during the fourth quarter worth about $35,000. Finally, Comerica Bank purchased a new stake in GeneDx during the fourth quarter worth about $50,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.